The complexity of the procedures, external and internal changes and following uncertainty as to future occurrences and results of the undertaken actions accompany every business entity, irrespective of its organization, type of ownership, origin. The key to a passable control over processes taking place in this organization is the knowledge that a loss event may occur.  The list of risks, depending on the branch, size of the organization, level of awareness is connected with uncertainty which should be property managed. Otherwise the risks could be ignored (which would result, sooner or later, in a disaster due to a loss event, or to a total paralysis – fear of realization of a risk would cause cessation of any activity).

When analyzing management actions in any unit one thing is certain – managers face the question of risk management every day. Are they however aware of this fact? Are their decisions analyzed through the prism of a uniform management system? Are individual events within the organization seen as a source of risks having an influence on other mechanisms? The answer is short – it is rather not very frequent. The domain of risk management as part of the management theory is a relatively new sphere In the organization’s functioning. It should be recognized that Poland, implementing modern management solutions, is learning since a dozen of years to apply solutions – in the fields of corporate order and theory of managing the public sector - being in force in many countries for a long time.    

A particular worry In this respect is the necessity of using a uniform and homogeneous system presented to the entire organization in a way so to be universally implemented and improved among all participants of the organization. Erigo offers to its Clients an interdisciplinary approach to risk management. We base on the ERM - Enterprise Risk Management theory within the Integrated Framework Structure COSO II, adding to it author system solutions which proved a success in projects realized for Clients in Poland.

ERMAP™ (Erigo Risk Management Analysis Program)

Risk Management Analysis

Risk Management Analysis (ERMAP™), is a program designed and successfully implemented by Erigo, destined to help entrepreneurs and institutions to create a risk management strategy. The aim of the project implementation is maximizing the entity’s financial results. The process engages the entire organization of the company and comprises, among others, identification, qualification, reduction, shaping and financing of the risk. The system, while taking into account Polish market’s specifics, uses international standards and experience in the so called risk mapping process, and combines them with legal and insurance knowledge.

Erigo’s philosophy in the field of risk management includes pro-active planning, implementation, measurement and monitoring of all risk management spheres. Thanks to that, and together with our Client, we attain results consisting in minimizing and mitigating not only systemic, but mainly primary risks occurring In the company’s business activity. The report containing results will help you to put key risks, which should be given special attention, in proper sequence. A simulation of the so called black scenario (catastrophic risk)  should be used to establish the potential influence of risk occurrence in the current operations of the company.

Every company, branch, place of business activity and employees form different, characteristic organisms. Erigo – through ERMAP – takes advantage of these positive management experiences and helps to eliminate the ineffective ones. Thanks to that a risk management system is created or supplemented, which system should form an integral part of the current enterprise management process.

As the result of many actions and on the basis of up to now applied procedures, a Risk Management Process will be created. It will take into account post-inspection conclusions and recommendations and show the way towards further improving the procedures. The multi-surface approach to both understanding of the organization’s general targets and tasks and to choice of strategic scopes of activity, risk defining, creation of a number of proper matrix forming a foundation for the implemented system -  makes the execution of this process indispensable.  An additional, surprising for Clients, element is the noticeable improvement of internal communication, especially among the risk owners, what makes ERMAP a multidimensional and creative program for the organization.

Risk management should form an integral part of the current enterprise management process in such a degree so to control the risk and resulting, negative financial occurrences.